Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

10th December, 2015

Press Release

Subject: Clarification regarding defective notices issued to FII/FPIs-reg.

Notices of defective returns were issued under section 139(9) of the Income-tax Act to Foreign Institutional Investors/Foreign Portfolio Investors (FIIs/FPIs) in cases where Balance Sheet and P&L account were not filled.

In order to overcome this difficulty, it is clarified that such returns will not be treated as defective in cases where the FIIs/FPIs:

i) is registered with SEBI

ii) has no Permanent Establishment/ Place of Business in India

iii) has provided basic information required under section 1 39(9)(f) of the Income-tax Act, if there is business income

All such cases , where the SEBI registration number has been provided by the FIIs/FPIs in the return for AY 2015-16 are being taken up for processing at CPC Bengaluru. For previous assessment years where the above information is not available in the Income Tax Return, FII/FPI may provide such details in their online response on the e-filing portal of the Income-tax Department ( to the previously issued notice u/s 139(9) of the Income-tax Act.

(Shefali Shah)
Official Spokesperson, CBDT

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Category : Income Tax (28540)
Type : News (14081)
Tags : Income Tax Return (467)

0 responses to “Clarification regarding defective notices issued to FII/FPIs-reg”

  1. sivaprasad says:

    what about the companies who are not FII/FPI’s.

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